LONDON : Sri Lanka reached a draft deal with creditors to restructure $12.5 billion of international bonds, it said on Thursday, in a major boost to the island nation's fragile recovery just two days before its presidential election. The country defaulted on its foreign debt for the first time ever in May 2022, engulfed in a severe crisis and buckling under its high debt burden and dwindling foreign exchange reserves. The agreement comes after Sri Lanka began a third round of formal debt

Tag-uri: SRI